Research On China’s Manufacturing Industry’s Export Efficiency To The "Belt And Road" Countries

In 2015,China issued the guideline of "Made in China 2025",emphasizing the acceleration of the international development of the manufacturing industry,implementing a more active opening strategy,and combining with " the Belt and Road Initiatives",insisting on "bring in" and "go out" to improve international competitiveness of Chinese manufacturing.Based on the above policy background,this article studies the efficiency of China’s manufacturing export trade to Southeast Asia and Central and Eastern European countries along the “Belt and Road”.By reviewing relevant literature,this article selects the theory of intra-industry trade,national competitive advantage,global value chain theory,and regional economic theory as the theoretical basis.From the perspective of value-added trade,China’s manufacturing industries in Southeast Asia and Central and Eastern Europe along the “Belt and Road” An analysis of the current status of total exports,export structure and export potential was conducted.Subsequently,this paper uses a stochastic frontier gravity model and a trade inefficiency model to measure the total export trade and export trade volume of different product structures,respectively,to measure the efficiency of export trade,and to explore the influencing factors of trade efficiency.The results showthat the whole level of the efficiency of China’s manufacturing export trade is on the low,and there is obvious heterogeneity among different countries and products.In the analysis of the impact mechanism of the trade non-efficiency term,it is found that there is a significant positive correlation between government expenditure,WTO variables,and the total trade non-efficiency term;government integrity,economic liberalization,and free trade agreement variables were significant negatively correlated with them.After subdividing the total amount,it is found that government integrity,government expenditure,free trade agreement,WTO,value chain participation and comparative advantage index variables have a greater impact on the non-efficiency of intermediate goods,while the degree of economic liberalization and infrastructure level have a greater impact on non-efficiency of the final product.Based on the efficiency results measured by the model,it is found that China’s manufacturing export efficiency values to the countries along the two regions are generally low,and there is significant regional heterogeneity,and China’s final product export trade efficiency to the countries along the Central and Eastern Europe is relatively high;The efficiency of export trade of intermediate products to countries along Southeast Asia is relatively high.In the analysis of the influencing factors of trade efficiency,it was found that the government’s integrity,thedegree of economic liberalization,the free trade agreement and the total export efficiency were positively related,while government expenditure and the WTO were negatively related to it.After subdividing the total export value by different product structures,it was found that government integrity,government expenditure,free trade agreement,WTO,value chain participation,and comparative advantage index have a greater positive impact on the efficiency of intermediate product exports,and economic liberalization The degree and infrastructure level have a greater positive impact on the efficiency of final product exports.According to the research results,this article puts forward policy recommendations from five aspects: government system,economic environment,trade agreements,infrastructure and global value chains.China should establish an image of government integrity,actively promote free trade area,actively participate in free trade agreements,promote overseas infrastructure construction,and lead countries along the route into the global value chain system.And according to the actual situation of different countries,adopt specific manufacturing export trade strategies to improve trade efficiency.